Market may have got ahead of itself on the USD rally over the last week or so

Jim Vrondas
Jim Vrondas OzForex

Market may have got ahead of itself on the USD rally over the last week or so. I think we may have seen the high in the Greenback for 2013, particularly against the GBP and NZD (VIEW LINK)

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Jim Vrondas

Yes James the U.S consumer is also very important but feel they are still quite reserved, Christmas will be a good measure of where they are at for sure. Whilst last weeks GDP and employment reports are positive the overall employment trend is still not strong enough. Can the U.S sustain jobs growth like this for the next few months and into next year? I don't think so

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James Marlay

Jim I agree with your comments about observing the trends in the jobs market. In my view it will be a case of observing a strong trend before the Fed has confidence to ease off on QE. What is do think also needs to be looked at is retail activity over Christmas, I think this will be a telling measure for consumer confidence.

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